EMCOR Group, Inc. $EME Stock Position Boosted by Aberdeen Group plc

Aberdeen Group plc increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 146.7% during the third quarter, Holdings Channel.com reports. The fund owned 6,764 shares of the construction company’s stock after acquiring an additional 4,022 shares during the quarter. Aberdeen Group plc’s holdings in EMCOR Group were worth $4,382,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of EMCOR Group during the third quarter worth $29,000. Orion Capital Management LLC bought a new position in EMCOR Group in the third quarter valued at about $31,000. Tobam raised its position in shares of EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in EMCOR Group during the 2nd quarter worth approximately $43,000. Finally, True Wealth Design LLC raised its position in EMCOR Group by 333.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after buying an additional 70 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson boosted their target price on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Finally, Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Up 1.1%

Shares of EME opened at $812.38 on Friday. The stock has a market cap of $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00. The business’s 50 day moving average price is $692.14 and its 200-day moving average price is $658.68.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were issued a dividend of $0.40 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is currently 6.43%.

EMCOR Group declared that its board has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.